ABS-CBNnews.com | 12/05/2012 11:07 AM
MANILA, Philippines - The Government Service Insurance System (GSIS) has been increasing its exposure to the Philippine Stock Exchange since the start of the year, and has been benefiting from its record gains.
GSIS president Roberto Vergara says the Philippines is really starting to show its true potential as an investment destination.
He added once the country gets an investment grade status shares will likely rise further.
The PSE index breached the 5,700 level Tuesday.
"The market really has strong momentum. I was just in Hong Kong this weekend and I spoke with investment banks there and there are a lot of investors who want to get in so I can only guess if they do get in, with the possibility of us getting investment grade next year, we can see a good run up similar to what we've seen in the last couple of years," Vergara said. - Report from Warren de Guzman, ANC